The emirate of Dubai has dramatically reduced the time it takes to open a business bank account from an average of 65 days to just five, thanks to the rollout of the digital-first Dubai Unified Licence (DUL).
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The emirate of Dubai has dramatically reduced the time it takes to open a business bank account from an average of 65 days to just five, thanks to the rollout of the digital-first Dubai Unified Licence (DUL).
The emirate of Dubai has dramatically reduced the time it takes to open a business bank account from an average of 65 days to just five, thanks to the rollout of the digital-first Dubai Unified Licence (DUL). The initiative, spearheaded by the Dubai Business Registration and Licensing Corporation under the umbrella of the Dubai Department of Economy and Tourism, allows both mainland and free-zone companies to access a unified digital identity and link directly with banking services and regulatory bodies.
Launched in 2023, the DUL provides each business in Dubai with a government-verified digital identity that connects them with banks, utilities and other service providers. Since its launch, more than 900,000 licences have been issued and the Service Providers Project has integrated the system with major regional banks enabling thousands of accounts to open swiftly.
The move reflects Dubai’s broader vision of creating a world-class, investor-friendly economy under its Economic Agenda D33. By eliminating drawn-out administrative processes and enhancing transparency, the initiative reinforces Dubai’s reputation as a premier business hub and makes it easier for entrepreneurs and investors to set up and scale operations.
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